Ground floor vs first floor flat - which is worth more?

saajan_12

salane19 said:

I am trying to decide which property is worth more, especially in terms of reselling in 5-6 years time. My aim is to purchase a house in the same area but I need to get on the ladder first with a flat. 

Both are converted flats in a semi detached Victorian house Wimbledon. They are both share of freehold (two properties in total). 

The ground floor flat has one large double, a small double, one bathroom and a garden. It has a shared kitchen and reception room. It has lovely bifolding doors to the garden. The total square footage including the garden is 820. 

The first floor flat has had a loft conversion, so it is over two floors. It has three large doubles, two bathrooms, a separate kitchen and reception room. But no garden or terrace. Nevertheless, it seems spacious. The total square footage is 950. 

They’re actually on sale for the same price of £600k and they are on the same road. Both are modern and require no updating. I have only been looking at first floor flats around £600-625k in the area but the price of this ground floor flat for £600k as well makes me think that a garden is worth as much as an extra bedroom? Which might be worth more in 5 years time? 

Starting at the basics, you're comparing a 2 bed / 1 bath with a 3 bed / 2 bath. What's the square footage of the ground floor without the garden? 

A garden is worth something, especially in the current climate, but I can't imagine it would be worth the same as a large double bedroom + bathroom. In 5 years time, the lockdowns may be long forgotten, but with population growth, you can't sleep 2 people in the garden. 

Getting into more detailed differences:
* ground floor is sometimes less valuable as more vulnerable to theft
* any of the upper flat rooms have lower ceilings if they're in the roof? 
* direction facing of the garden?
* first floor isn't too bad if just stairs, but accessibility? 
* possibility of extension for ground floor? 

To get a better idea, I'd compare with other similar 3 bed flats and 1.5/2 bed flats with gardens in the area. 

steve866

They are worth exactly the same according to estate agents. It is likely that the one that would fetch the most in 5 years time will be pretty much down to luck based on buyers requirements at the time of selling. I almost bought a flat in Wimbledon a couple of years ago (was fortunate enough to stretch to a house in the end) and I limited my search to only ground floor garden flats as I value outside space. The demand has also increased for outside space due to the lockdowns. 

Are you certain the garden is private to the garden flat? Agents are often misinformed in what the deeds actually say.

As others have said, you should pick the one you prefer as there is no accurate way of predicting which one will grow in value the most.

sourpuss2021

The sound/vibration impact of the front door being slammed closed can be a problem in hallway Victorian conversion flats.    Your upstairs neighbours slamming it every time they come in will go right through you when you're in the ground floor front room.  Though you can often feel it in the first floor if you're directly above the door, too.

JReacher1

The 3 bedroom, 2 bathrooms first floor property will have a higher value long term. 

Gavin83

salane19 said:

I am trying to decide which property is worth more, especially in terms of reselling in 5-6 years time. My aim is to purchase a house in the same area but I need to get on the ladder first with a flat. 

Both are converted flats in a semi detached Victorian house Wimbledon. They are both share of freehold (two properties in total). 

The ground floor flat has one large double, a small double, one bathroom and a garden. It has a shared kitchen and reception room. It has lovely bifolding doors to the garden. The total square footage including the garden is 820. 

The first floor flat has had a loft conversion, so it is over two floors. It has three large doubles, two bathrooms, a separate kitchen and reception room. But no garden or terrace. Nevertheless, it seems spacious. The total square footage is 950. 

They’re actually on sale for the same price of £600k and they are on the same road. Both are modern and require no updating. I have only been looking at first floor flats around £600-625k in the area but the price of this ground floor flat for £600k as well makes me think that a garden is worth as much as an extra bedroom? Which might be worth more in 5 years time? 

Personally I wouldn't buy a flat full stop but if I did there is no way I'd buy one with someone above me. The noise, especially in a conversion rather than a purpose built complex can be hard to live with. I also couldn't live with one toilet. The extra bedroom would be a huge bonus as well so it would be an easy decision for me. I've lived in both a top floor flat and a ground floor flat so I have experience of both.

As for which will increase more, who knows. The ground floor flat would be better for those with pets, or disabled/elderly people while the other flat would be better for families and those who just like a bit of extra space.

elsien

Which one would you be happiest living in?
Regardless of increase in value, you’re unlikely to be staying put for 5 or 6 years if the flat doesn’t suit your lifestyle, whichever one you choose.
Anything else is just crystal ball territory. 

london21

Depends on your personal preference. 

I like having a garden for outside space. 

TripleH

Answer = what you want and need.

A mobile impaired garden lover would prefer the ground floor flat, a less physically inhibited person might prefer the elevated 1st floor flat.

It can depend also from to area subject to demographics.

Mind you a messy garden attracts Wombles down that way.

Ramouth

Are the flats close to a nice park?  If so then I would choose the upper.  If not maybe a different flat altogether.  We had an upper ground floor flat at one point with the disadvantages of noise from neighbours directly above, noise from the front door to all the flats being next to our living room, the noise of the stairs and looking out on to the lovely garden belonging to the lower ground floor flat to which we had no access.  The noise bothered us more than the garden as there were parks and the beach to go to.

arthurdick

TripleH said:

Answer = what you want and need.

A mobile impaired garden lover would prefer the ground floor flat, a less physically inhibited person might prefer the elevated 1st floor flat.

It can depend also from to area subject to demographics.

Mind you a messy garden attracts Wombles down that way.

Yep, I have seen them, underground, overground wombling free.